The anomaly is that people in America are living 30 years longer than people in the 20th century but only working two years longer. In 2000, the average retirement age was 62, and the average retirement age in 2010 was 64. Many of the recent retirements were involuntary: the massive lay-offs between 2008-2012 because of the Great Recession, corporate mergers and consolidations, work being outsourced to other countries, increased automation, and other factors. Many were also voluntary as employees accepted attractive severance packages or just wanted to get off the corporate treadmill.
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The Center for Productive Longevity (CPL), which serves as the bridge between people 55 and older and the opportunities that enable them to continue in productive activities, today described “The 3 Important Ways to Defuse the Ticking Time Bomb of our Aging Workforce”. With 77 million people in the United States 55 and older, we are at a tipping point: we can either watch them sit on the sidelines, drawing from unsustainable entitlement programs and the general economy, or we can enable this growing population segment to continue working and contribute to the country’s economic growth and prosperity.